Trade between Italy and Serbia could reach 4bln euro by year end

The trade between Serbia and Italy could reach a record value of four billion euro by the end of the year – says Italian Ambassador to Serbia, Carlo Lo Cascio.

He added that Italy was continuing to implement more ambitious investment programmes and re-investments in the Serbian economy.

“The economic and trade relations between Belgrade and Rome are excellent; we are excellent partners, and we are the second biggest partner to Serbian economy after Germany”, Lo Cascio said at the gathering on the occasion of the General Assembly of Confindustria in Serbia, the Italian association of production and service companies.

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Head of the EU Delegation in Serbia, Sem Fabrizi spoke about Serbia’s success on its EU accession path, as well as the goals that still had to be reached.

“We are the biggest client and buyer of the Serbian economy, and the value of the trade between the two countries stands at around 4 billion euro. The trade (export and imports) between Serbia and Italy is constantly developing and if the trend continues, it will definitely reach a record value of four billion euro by the year-end”, the Ambassador underlined.

According to him, Italy is buying more from Serbia then the other way round and Italy has recorded a small deficit in that segment.

The value of the investments made by 400 Italian companies operating in Serbia, which employ around 25,000 people, is between 2.5 and 3 billion euro, the Ambassador said, adding that Italian companies have been frequently opening their production plants in Serbia.

The Ambassador recalled that, only last week, Calzedonia opened its third plant, in Kula, and that the ceremony was attended by Serbian President Aleksandar Vucic.

“The signals we are getting from Belgrade are positive,” Ambassador Lo Cascio said, adding that he also sees positive signals coming from Rome, as well as the ambitions and aspirations of Italian businesses to enter the Serbian market.

(Nova Ekonomija, 04.12.2018)

This post is also available in: Italiano

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